- BCH jumped from $455 to $730 while BTC dropped nearly 30%.
- BCH broke above $621, a key resistance level watched by traders.
- The rally pushed BCH up over 60% in less than three days.
Bitcoin Cash (BCH) has made a rapid move upwards during a period of falling prices across the cryptocurrency market. From a low of $455, BCH rose to $730, recording a gain of over 60% in just a few days. This price action occurred while Bitcoin (BTC) declined by nearly 30% and many altcoins saw similar losses.
Market watchers note that BCH’s move is unusual in this environment. Sentiment across the sector is low, with many traders expecting further declines. However, BCH defied the trend and moved sharply higher, breaking above the key resistance level of $621. The move beyond that point led to increased volume and further price acceleration.
Key Resistance Broken During High Volume Move
The $621 level had served as a strong resistance zone in past weeks. Once the price moved above it, BCH showed consistent upward movement. The breakout was followed by high buying interest, and the daily chart now shows a clear upward trend.
According to a post from market account @TheTriggerTrade, “The main level to watch is $621. If BCH breaks above it, things could move quickly.” This breakout aligns with that prediction, as BCH pushed toward $730 soon after crossing the level.
Analysts are also comparing BCH’s price structure to Zcash (ZEC), which saw similar sideways movements before a sharp breakout. Market commentary from MR IRRELEVANT suggests that BCH could be setting up for larger moves, with targets placed at $684, $768, and possibly $1166.
Technical Structure and Future Levels
On both daily and weekly charts, BCH is forming higher lows and has exited its consolidation phase. The current pattern indicates that bullish momentum is growing, and traders are closely watching the next levels around $768.
While short-term retracements are possible, the structure remains intact as long as BCH stays above $621. If the broader market stabilizes, BCH may continue to lead in terms of gains.
The rally from $455 to $730 has caught many off guard, especially since it comes during a wider market correction. Traders are now monitoring the chart closely to determine if BCH can maintain its momentum.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
